Key findings from our examinations of business risk assessments and the role of money laundering compliance officers

Money laundering compliance officers and business risk assessments both play essential roles in preventing financial crime. They were also the focus of two thematic examinations programmes carried out last year.

Here Andrew Henson covers the key things that individuals and companies should consider based on our findings. We’ve also produced a checklist of best practice points.

Here are the detailed feedback papers:

• The Role of the Money Laundering Compliance Officer
• AML/CFT Business Risk Assessment and formal AML/CFT Strategy Feedback from 2022 Examinations

For more information about business risk assessments and the role of money laundering compliance officers there are lots of resources on our website, including:

• What is a Business Risk Assessment
• Sections 2.3.1. and 2.6 of our handbook